LONDON (Alliance News) - Primary Health Properties PLC Tuesday said it has revised the structure for advisory fees paid for the management of its property portfolio with effect from April 30.
These changes are in addition to those announced in September whereby Nexus Tradeco Ltd will become the sole advisor to the company from April 30, taking on responsibility for those non-property services previously provided by J O Hambro Capital Management Limited.
Nexus will receive a fixed annual fee which may be increased or decreased by up to 5% subject to movements in the UK Retail Price Index, or such other appropriate independent index agreed by Nexus and the company.
Nexus has delivered advisory services to the company for over 17 years under the terms of an advisory agreement and during this time has generated significant annual returns for shareholders, Primary Health Properties said.
The stock was trading at 358.77 pence Tuesday morning, down 1.23 pence or 0.3%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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Primary Health (PHP)